JUDGMENT OF THE COURT
1. Section 82 (1) (a) and 82 (3) of the Companies Act, Cap 486 of the Laws of Kenya (repealed) provided as follows:
82 (1) (a) Every company shall, within sixty days after the allotment of any of its shares............ complete and have ready for delivery the certificates of all shares......., unless the conditions of issue of the shares, ...... otherwise provide.
(b) ...........
82 (2) If default is made in complying with this section, the company and every officer of the company who is in default shall be liable to a default fine.
82 (3) If any company on whom a notice has been served requiring the company to make good any default in complying with the provisions of subsection (1) fails to make good the default within fourteen days after the service of the notice, the court may, on the application of the person entitled to have the certificates .....delivered to him, make an order directing the company and any officer of the company to make good the default within s…